Monday, March 6, 2023
Round-up of important news from major Korean dailies and from international media today
The Korea Post ( www.koreapost.com )
New ambassador of Azerbaijan has 24 years of professional work experience
The Republic of Korea now has a new ambassador from the Republic of Azerbaijan who was accredited to Korea in August 2022. The new ambassador is H.E. Ramin Hasanov. The Korea Post interviewed Ambassador Hasanov at the Embassy of Azerbaijan in Seoul on March 3, 2023, and learned the following details: Prior to this appointment, Ambassador Hasanov has served as the Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan to the Federal Republic of Germany.
Kuwait looms great for remarkable opportunities for increased cooperation
Nowadays, economic cooperation between Korea and other countries of the world is becoming more and more important. In this regard, the State of Kuwait, according to Ambassador Deyab Al Rashidi of the State of Kuwait in Seoul, looms remarkably great as Kuwait has great opportunities for the Korean business enterprises. Here are details of an interview with Ambassador Deyab Al Rashidi of Kuwait:
LG provides free laundry service to earthquake-damaged people in Türkiye
LG Electronics and its labor union have joined forces to help provide humanitarian relief to people in Türkiye affected by the recent, devastating earthquakes. LG is currently operating free laundry facilities to help those displaced by the earthquakes to wash and dry their clothing. The company has installed approximately 120 washing machines and dyers in eight temporary housing locations around Türkiye, including the southern and southeastern provinces of Mersin and Taurus. LG’s service engineers will be on-site at the facilities to offer any necessary technical support.
Chosun Ilbo (http://english.chosun.com)
U.S. Sends 'Ghostrider' Gunship for Special Ops Drill
The U.S. has sent an AC-130J "Ghostrider" aircraft to South Korea for joint exercises. The plane is a heavily armed ground-attack variant of the C-130 Hercules transport aircraft. The two sides have been conducting a special ops training exercise dubbed "Teak Knife" for about a month to practices infiltrating North Korea in an emergency, according to the Joint Chiefs of Staff on Thursday. The Lockheed AC-130J is equipped with precision-guided missiles, cannons and howitzers.
U.K. Watchdog Gives Green Light to Korean Air-Asiana Merger
Korean Air is another step closer to taking over ailing Asiana Airlines as the U.K.'s Competition and Markets Authority gave the green light to the planned merger of the two flag carriers. The takeover has already been approved by Korea's own Fair Trade Commission and 11 countries including China and Australia. But the EU and Japan have yet to approve it after demanding some changes to allay monopoly concerns. A Korean Air staffer said, "The remaining merger authorization process is expected to be completed in the first half."
Hyundai, Kia's U.S. Sales See Record for February
Hyundai and affiliate Kia set new sales records in the U.S. for the month of February. Hyundai sold 61,252 cars, up 9.6 percent from the previous year, and Kia 60,859 cars, up 23.7 percent. It is the first time that both carmakers sold more than 60,000 vehicles in the U.S. for the month of February. Their combined sales rose 16.2 percent on-year to 122,111 cars. The sales of eco-friendly vehicles rose 18.7 percent to 18,063 cars. However, electric car sales dropped 14.1 percent due to the U.S. Inflation Reduction Act, which scraps tax credits for EVs not manufactured there.
Joongang Ilbo (https://koreajoongangdaily.joins.com )
Korea, Japan in 'final stages' of talks over forced labor: National security adviser
National Security Adviser Kim Sung-han said Sunday that Seoul and Tokyo are in the final stages of negotiations on compensation for forced labor victims, stressing the importance of the future generation in paving a "new era" of bilateral relations. "I am aware that the negotiations between the diplomatic authorities of Korea and Japan are now in their final stages," Kim told reporters at Incheon International Airport before departing for Washington for a five-day trip. "
Suspect set multiple fires in, near Incheon market: Police
A man detained Sunday morning on suspicion of starting a massive overnight blaze that burned down more than 50 stores in an Incheon market set fire to five different locations inside and near the market, according to police. The suspect, whom the Incheon Jungbu Police Precinct described only as a man in his 40s, is accused of starting three fires inside the Hyeondae Market in Songnim-dong, Dong District, at around 11:38 p.m. the previous day. Police said closed-circuit television (CCTV) footage recorded by street cameras outside the market showed the man also setting fire to garbage awaiting collection next to a church outside the market, then to a small cargo truck parked nearby.
Yoon loyalist Kim pulls ahead in PPP leadership race
Rep. Kim Gi-hyeon has emerged as the frontrunner in the race to elect the conservative People Power Party’s (PPP) new leader after record turnout on the first day of voting Saturday. The next PPP chairman is expected to lead the party through next year’s parliamentary elections, where the PPP will seek to gain a majority in the National Assembly, currently dominated by the rival Democratic Party, to empower President Yoon Suk Yeol. Party officials said Saturday that voting turnout was 34.72 percent, an all-time high for a conservative party.
The Dong-A Ilbo (http://english.donga.com/)
Seoul-Tokyo business federations to raise funds for forced labor victims
It was reported that the Federation of Korean Industries (FKI) and the Japan Business Federation (JBF) decided to raise a fund tentatively named ‘future youth fund’ as a solution for compensation for the forced labor victims of the Japanese colonial period. The South Korean and Japanese governments shared the understanding that the Japanese defendant companies responsible for compensation – Mitsubishi Heavy Industries and Nippon Steel – should participate in the fund.
Volvo could discuss cooperation with S. Korean battery companies
It was confirmed on Sunday that Jim Rowan, the CEO of Volvo Cars, who announced transformation into an electric car brand, will visit South Korea the following week. It is garnering attention if he will discuss cooperation with South Korean electric car battery companies. The CEO will arrive in South Korea on Sunday afternoon and meet with official dealers of Volvo Cars on the next day. Once he finishes his official schedule in South Korea, he will head to Japan on March 14.
S. Korea, U.S. to hold drills for N. Korean leadership removal and civilian support
South Korea and the United States have confirmed that they will skip the "repel and defend" phase of the Freedom Shield joint military exercises. The exercises, which are scheduled to take place from March 13 to 23, will start with the ROK-U.S. alliance's "counterattack and stabilization operations in North Korea." This 11-day drill will be the longest one ever held. According to a military source on Friday, the purpose of the "Freedom Shield" military exercises is to assess the ROK-U.S. alliance's ability to counterattack in case of a full-scale war with North Korea, as well as tactical scenarios during the winter season, rather than reacting passively to North Korea's preemptive provocations.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Korean chipmakers review shift in production strategy amid global realignment
South Korean chip manufacturers are seeking new approaches to production as the global industry is poised to be realigned amid intensifying competition among countries to reinforce their supply chains. According to industry sources on Thursday, Korean chipmakers such as Samsung Electronics Co. and SK hynix Inc. are considering adjusting their production network by reviewing geopolitical trends.
Korea to ease regulations to support investment in battery, energy industries
The government will ease regulations in the battery, electric vehicle and energy industries to encourage more investment that could lead to 2.8 trillion won ($2.1 billion) in new spending and create 12,000 new jobs. The decision came during a government meeting led by Prime Minister Han Duck-soo on Thursday. LG Energy Solution Ltd. will see some benefits from the eased regulations as the country’s biggest EV battery maker has been facing regulatory challenges in constructing its battery plant in Ochang, North Chungcheong Province.
Korea’s pension fund reports record investment loss of $60bn in 2022
The National Pension Service (NPS), the largest institutional investor in South Korea, saw its total assets fall by 79.6 trillion won ($60.6 billion) in 2022 to mark the worst-ever loss in 23 years as global financial markets tumbled. According to the NPS Investment Management on Thursday, its investments in 2022 posted a negative return of 8.2 percent. All areas of investment saw a negative return except for alternative investment that achieved an 8.9 percent return.
HanKyoReh Shinmun (http://english.hani.co.kr)
Yoon hits hurdle in race to set aside history and better ties with Japan
President Yoon Suk-yeol is facing fierce public backlash after stating that Japan has changed from a “military aggressor to a cooperative partner.” Yoon has made improving ties with Tokyo his biggest diplomatic goal for his second year in office and is expecting a positive response from Japan. Nevertheless, given the difficulty of resolving several thorny historical issues between the two countries, some argue it’s difficult to justify such a policy or find any tangible advantages.
Korea’s hope lies in making bold steps toward a new future
A year has passed since Yoon Suk-yeol was elected president. Unfortunately, it seems as if the first year of the Yoon administration will be remembered as one full of investigations by prosecutors and various blows toward the previous administration, unions, striking workers, and civic organizations. We have yet to hear a proactive national vision, goal, or roadmap from this administration regarding important national and global agendas, such as issues that involve the economy, welfare, labor, foreign affairs, national security, inter-Korea relations, and the climate crisis.
Yoon’s March 1 speech widely panned as ahistorical, humiliating and dangerous
South Korean President Yoon Suk-yeol is facing a storm of criticism after remarking that Koreans “lost our national sovereignty [. . .] because we failed to properly prepare for a changing world” in his commemorative address for the March 1 Independence Movement. Yoon faces criticism not only from the opposition Democratic Party and civic society but also from the ruling party for revealing a colonial attitude to history at a ceremony that was held to honor the spirit of Korean independence activists who resisted the Japanese Empire’s looting of the country.
The KyungHyangShinmun (http://english.khan.co.kr/)
People Power Party Cries “Internal Cartel” after KT Selects New CEO Candidates
People Power Party (PPP) lawmakers of the parliamentary Science, ICT, Broadcasting and Communications Committee held an emergency press conference on March 2 and fiercely criticized the KT board of directors for recommending only KT insiders as CEO candidates, accusing them of forming “a cartel of interests” and “a league of their own.” Some politicians suggested that the ruling PPP was trying to have one of their own people as the next CEO of KT. The criticism seemed to have taken the telecommunications company by surprise, but KT is expected to appoint its new CEO as scheduled.
Police Investigate Chung Sun-sin and Commissioner General Yoon Hee-keun
The police launched a probe into attorney Chung Sun-sin, who was reported for failing to state the disciplinary measures against his son for school violence in the candidate verification form. President Yoon Suk-yeol appointed Chung as chief of the National Office of Investigation in the National Police Agency on February 24, but withdrew his appointment the next day after news got out that Chung’s son had been responsible for school violence. On March 2, the Seoul Metropolitan Police Agency announced that they assigned the case to the Seodaemun Police Station in Seoul after a report was filed against Chung for conveying false information in an official document and for the obstruction of the performance of official duties.
President Yoon Says, “Japan Has Transformed from an Aggressor to a Partner for Cooperation” in March First Independence Movement Day Speech
On March 1, President Yoon Suk-yeol said, “Now, a century after the March First Independence Movement, Japan has transformed from a militaristic aggressor of the past into a partner that shares the same universal values with us. Today Korea and Japan cooperate on issues of security and economy. We also work together to cope with global challenges.” In his speech commemorating the 104th anniversary of the March First Independence Movement at the Memorial Hall of Yu Gwan-sun in Jung-gu, Seoul Wednesday, President Yoon also said, “In particular, the trilateral cooperation among the Republic of Korea, the United States and Japan has become more important than ever to overcome the security crisis including North Korea’s growing nuclear threats and global polycrisis.”
KBS(http://world.kbs.co.kr/service)
Gov't to Announce Solution to Forced Labor Compensation Issue
Seoul plans to announce its solution to the issue of compensation for Korean victims of Japan’s wartime forced labor on Monday. Under the purported plan, about four billion won, or some three million U.S. dollars, will be paid to the 15 victims involved in the 2018 Supreme Court rulings against two Japanese companies through a fund to be created by the Foundation for Victims of Forced Mobilization by Imperial Japan under the interior and safety ministry .
Police Detain Suspect in Massive Fire in Incheon Market
Police on Sunday detained a man accused of starting a fire at a fish market in Incheon, which burned down 55 stores. The Incheon Jungbu Police Precinct is reportedly investigating the suspect in his 40s. According to authorities, the fire broke out at the Hyundai Market in Incheon at around 11:40 p.m. on Saturday. The suspect is accused of starting a fire at three stores in the market.
Chip Inventory-to-Sales Ratio Hits Near 26-Year High in January
The country's semiconductor inventory rose to its highest level in nearly 26 years in January, amid a slump in global chip demand. According to data by Statistics Korea on Sunday, the inventory-to-sales ratio of the country's chipmakers came to 265-point-seven percent in January, the highest since March 1997. The ratio is a measurement of the amount of chip inventory compared to sales, with a higher ratio indicating the slump in the chip industry is feared to continue for a while.
Yonhap (http://english.yonhapnews.co.kr)
N. Korea says high-thrust rocket engine offers 'sure guarantee' for satellite launch
North Korea's development of a high-thrust engine capable of carrying a rocket has provided a "sure guarantee" for the country to launch various satellites into orbit, according to state media Monday. Pak Kyong-su, vice director of the National Aerospace Development Administration, made the remarks amid speculation the North is likely to put a military spy satellite into orbit by April. In an interview by the Korean Central News Agency (KCNA) on Sunday on the occasion of the 14th anniversary of the North's accession to the international outer space treaty, Pak said the North has made "steady" progress in the work to develop "multi-functional and high-performance" satellites.
U.S. guided-missile destroyer visits S. Korea
A U.S. guided-missile destroyer visited South Korea's southern island of Jeju last week, the U.S. Pacific Command said Sunday, in an apparent show of force and a warning to North Korea against missile provocations. It said the Arleigh Burke-class guided-missile destroyer USS Rafael Peralta docked at Jeju on Monday last week and left the island Friday after a "scheduled port visit." Rafael Peralta, the 9,200-ton forward-deployed vessel commissioned in 2017, is the U.S.
S. Korea's consumer prices up 4.8 pct in Feb.; hike in utility costs hits record high
South Korea's on-year growth in consumer prices fell below 5 percent for the first time in 10 months, data showed Monday, although the hike in utility costs hit yet another fresh high. Consumer prices, a key gauge of inflation, rose 4.8 percent last month from a year earlier, compared with 5.2 percent growth posted in January, according to the data from Statistics Korea. Inflation stayed above 2 percent -- the central bank's inflation target over the medium term -- for the 23rd straight month in February.
The Korea Herald (http://www.koreaherald.com)
Deal reached on forced labor: sources
South Korea and Japan have reached a compromise settling a decadesold dispute over apologizing to and compensating Korean laborers forced to work for Japanese companies during World War II, sources said Sunday. Under the arrangement Seoul will cover the cost of compensating workers while Tokyo pays into a proposed fund aimed at expanding bilateral exchanges. The settlement, which comes 4 1/2 years after Japan refused to uphold Korea’s 2018 Supreme Court decision holding the Japanese liable for damages, will be made public Monday, according to the sources.
N. Korea says high-thrust rocket engine offers 'sure guarantee' for satellite launch
North Korea's development of a high-thrust engine capable of carrying a rocket has provided a "sure guarantee" for the country to launch various satellites into orbit, according to state media Monday. Pak Kyong-su, vice director of the National Aerospace Development Administration, made the remarks amid speculation the North is likely to put a military spy satellite into orbit by April. In an interview by the Korean Central News Agency (KCNA) on Sunday on the occasion of the 14th anniversary of the North's accession to the international outer space treaty, Pak said the North has made "steady" progress in the work to develop "multi-functional and high-performance" satellites.
Ruling party leadership race descends into proxy presidential approval vote
The race to be the new chairperson of the ruling People Power Party is turning into a contest between candidates who have President Yoon Suk Yeol’s apparent backing and those who do not. Rep. Ahn Cheol-soo, the three-time presidential contender who is now vying to lead the People Power Party, said Sunday he was competing on an “uneven playing field,” citing the latest allegations of the presidential office’s behind-the-scenes push for another leading candidate, Rep. Kim Gi-hyeon. Online conversations revealed to the press for the first time on Friday showed some participants identified as presidential staffers engaging in a group chat with the ruling party’s supporters, where they allegedly shared messages vilifying Ahn while rallying for Kim.
The Korea Times (http://www.koreatimes.co.kr)
US geopolitical strategy may impact Samsung, SK
President Joe Biden's official launch of the first funding opportunity for the CHIPS and Science Act (CHIPS Act) features a set of export controls that include detailed measures to cut China off from importing advanced semiconductors made in any country using U.S.-patented chip equipment. The law clearly illustrates the administration's intention to set Chinese manufacturers back years because the regulations will directly curb their ambitious aim to miniaturize chips. Seemingly, the U.S. is feeling a sense of urgency about China threatening its decades-long dominance in the military and technology sectors.
Korea puts final touches on 25th World Scout Jamboree
Korea is finalizing its preparations for the 25th World Scout Jamboree that will take place this August on reclaimed land at Saemangeum, North Jeolla Province, on the west coast, bringing together some 43,000 teenagers from 170 countries, according to the Ministry of Gender Equality and Family, Sunday. Organized by the World Organization of the Scout Movement, the World Scout Jamboree is the world's largest youth camp held every four years, offering a venue for young people from around the world to learn about each other's cultures and build friendships.
China sets economic growth target of 'around 5%' for 2023
China on Sunday set an economic growth target of "around 5 percent" for 2023, one of the lowest in decades, as its annual National People's Congress opened in Beijing. The target was announced in a work report delivered by outgoing Premier Li Keqiang as the rubber-stamp parliament opened at the capital's Great Hall of the People. The figure was slightly lower than the average of forecasts of economists surveyed by AFP, who predicted a goal of around 5.3 percent. Li said China would aim to add "around 12 million new urban jobs" this year and bring the urban unemployment rate to around 5.5 percent.
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Wall Street Journal www.wsj.com support@wsj.com, service@wsj-asia.com
Financial Times www.ft.com ean@ft.com
The Times www.thetimes.co.uk help@timesplus.co.uk
The Sun www.thesun.co.uk talkback@the-sun.co.uk
Chinese People's Daily www.people.com.cn kf@people.cn
China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn
Gwangmyeong Daily www.gmw.cn webmaster@gmw.cn
Japan's Yomiuri www.yomiuri.co.jp japannews@yomiuri.com
Asahi www.asahi.com customer-support@asahi.com
Mainichi www.mainichi.jp
Le Monde www.ilemonde.com
Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com
Germany Frankfurter AllgemeineZeitung www.faz.net anzeigen.ausland@faz.de
SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de
Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Heraldwww.smh.com.au
Colombia Reports http://colombiareports.com
Bogota Free Planet http://bogotafreeplanet.com, bfp@bogotafreeplanet.com
El Universal http://www.eluniversal.com.mx/english
Andes http://www.andes.info.ec/en
Ecuador Times http://www.ecuadortimes.net
The Jordan Times https://www.jordantimes.com
LSM.lv http://www.lsm.lv/en
The Baltic Times http://www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais http://elpais.com/elpais/inenglish.html
Philippine Daily Inquirer https://www.inquirer.net
Daily News Hungary http://dailynewshungary.com
Budapest Times http://budapesttimes.hu
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Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE
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